The Expensive Rolex Watch Why is it Expensive?
The company's founder was Hans Wilsdorf in London.
At that time, watches were inaccurate.
His goal was to make watches both accurate and elegant. He moved his company to Switzerland, the home of the watch industry, and named it Rolex because of its short form and ease of pronunciation in any language.
In 1910, Rolex received the Swiss Precision Certificate.
In 1926, the Oyster watch was launched, the first waterproof watch.
In 1927, an English swimmer named Mercedes Gleitze wore an Oyster watch while swimming across the Channel. The watch survived the 10-hour swim.
In 1933, a team of explorers climbed Mount Everest wearing Rolexes, and each watch was awarded the title of "Superlative Chronometer." Each Rolex was accurate to within -2/+2 seconds per day, better than usual.
Watch parts are expensive, time-consuming and costly, and are manufactured by hand. Workers are among the highest paid in the world, and Rolex watches do not age well and their prices do not decrease even when used. Mechanical watches are difficult to design and manufacture.